Solved: How much is still owed to munson at december 31st if 12800, Accounting Basics

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How much is still owed to munson at december 31st if 12800

Munson Company reported the following information for 2011:

October

November

December

Budgeted sales

$930,000

$870,000

$1,080,000

• All sales are on credit.

• Customer accounts are collected 50% in the month of sale and 50% in the following month.

How much is still owed to Munson at December 31st if $12,800 were not collected from the amount that should have been collected from November sales in December?

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Accounting Basics: How much is still owed to munson at december 31st if 12800

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